TASI Technical OverviewPosted on Sunday, January 8 2017 at 5:45 am GMT+0000
Testing pivot at 7200.
The recent long term move above the previous weekly top at 6900 marked as the peak of April 2016 shifted the weekly overview to Bullish raising expectation in the market’s ability to continue its rally targeting at least the 7800 level and a break above that could move the battle even higher towards the 9410 barrier. At the other hand, traders of the medium term shall monitor for any downside extensions that would provide them with renewed buying opportunities. While near- term traders should monitor for a direct break above the 7300 that might restore the short term positive picture.